Helmerich & Payne, Inc., together with its subsidiaries, provides drilling solutions and technologies for oil and gas exploration and production companies. The company operates through North America Solutions, Offshore Solutions, and International Solutions segments. The North America Solutions segment conducts operations primarily in Texas. The Offshore Solutions segment has drilling operations in Louisiana and in U.S. federal waters the North Sea and Norwegian Sea off the coast of Norway, Caspian Sea and other international waters. The International Solutions segment conducts drilling operations in Saudi Arabia, Argentina, Bahrain, Oman, Germany, and Kuwait. The company focuses on developing, promoting, and commercializing technologies designed to enhance the drilling operations, as well as wellbore quality and placement. It also owns and operates commercial real estate properties. In addition, the company's real estate investments include a shopping center. Helmerich & Payne, Inc. was founded in 1920 and is headquartered in Tulsa, Oklahoma.
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Exxon to automate half of Permian drilling rigs by 2028
Exxon Mobil plans to transition half of its Permian Basin drilling fleet to automated rigs by 2028 as part of a push to boost production in the basin by nearly 40% to 2.5 million barrels of oil equivalent per day by 2030. The company currently operates more than 30 drilling rigs in the Permian, two of which are automated rigs with robotic equipment, including its first automated rig supplied by drilling contractor Helmerich & Payne installed last year. Bart Cahir, Exxon's senior vice president of unconventionals, told Reuters that removing workers from the rig floor reduces variability and allows them to focus on other operations, increasing drilling efficiency. Cahir noted that about a third of significant injuries in well drilling occur on the rig floor, so automation essentially eliminates that risk.
Helmerich & Payne Q3 revenue beats estimates but EPS misses
Helmerich & Payne reported fiscal third-quarter revenue of $1.03 billion, topping the Zacks Consensus Estimate of $988.44 million by 4.7%, while posting a loss of $0.11 per share that missed the consensus estimate of $0.11 by 200%. Revenue declined 0.6% year-over-year, and EPS swung from a profit of $0.22 a year ago. North America Solutions operating revenue came in at $562.9 million, down 5% from the prior year, while Offshore Solutions revenue rose 7.8% to $174.41 million and International Solutions revenue fell 5.9% to $250.12 million. The company's average active rig count in North America Solutions was 142, slightly above the 141 estimate, and International Solutions averaged 65 active rigs versus the 64 estimate.
Helmerich & Payne Stock Under Review After Q1 Earnings
Helmerich & Payne shares have dipped 3% over the past six months, underperforming the S&P 500's 6.5% gain, and now trade at $32.70. The company operates the largest fleet of super-spec rigs in North America and has posted a five-year compound annual revenue growth rate of 32.2%, while its adjusted EBITDA margin expanded by 11 percentage points over the last year to 22.5%. However, its five-year average gross margin of 34.9% signals weak structural profitability compared to peers. The stock currently trades at 31.9 times forward earnings.
Helmerich & Payne declared a cash dividend of $0.25 per share with an ex-dividend date of August 18, 2026. The most followed narrative on Simply Wall St points to a fair value of about $41.47 per share, implying the stock is 14.8% undervalued relative to its last close of $35.34. That fair value estimate is above the analyst price target of $40.80 and rests on expectations for higher margins, sustained profitability, and a future P/E below the sector average but above today's implied level. The narrative highlights that a 20% year-over-year increase in app adoption and performance-based contracts is driving stronger customer value creation and differentiated pricing, supporting higher revenue and margin expansion. However, heavy exposure to U.S. shale and the risk of prolonged rig overcapacity could pressure day rates and keep margins under strain.
Helmerich & Payne Named Energy Stock to Watch, Halliburton and NOV Flagged as Sells
StockStory identified Helmerich & Payne as an energy stock to watch, citing its 32.2% annual revenue growth over the past five years and an 11-percentage-point EBITDA margin expansion. The firm flagged Halliburton and NOV as stocks to sell, pointing to Halliburton’s 16.8% gross margin and NOV’s 3.3% annual sales decline over the last decade along with a 3.4% free cash flow margin. Helmerich & Payne trades at 30.4 times forward earnings, while Halliburton and NOV trade at 13.6 and 17.9 times forward earnings, respectively.
Citi Cuts Helmerich & Payne Price Target to $36, Maintains Neutral Rating
Citi lowered its price target on Helmerich & Payne to $36 from $38 while reaffirming a Neutral rating. The firm told investors that land drillers are at a crossroads, with momentum expected in fiscal Q3 but improvement beyond that at risk as the 2027 oil strip recently fell toward $66. Separately, Goldman Sachs raised its target on the stock to $41 from $35 on June 4, also keeping a Neutral rating, citing incremental improvements in oilfield activity and unique opportunities in oilfield service stocks.
Oilfield services Q1 revenues beat estimates by 3.8% but stocks fall 10.2% on average
The 26 oilfield services stocks tracked by this publication reported a strong first quarter, with aggregate revenues beating analysts' consensus estimates by 3.8%. Despite the top-line outperformance, share prices across the group have fallen an average of 10.2% since the latest earnings results. Helmerich & Payne posted revenues of $932.4 million, down 8.2% year on year and missing estimates by 1.9%, while its stock dropped 16.2%. Select Water Solutions was the best performer, with revenues of $366 million beating expectations by 6.8% and its stock rising 13.8%. Borr Drilling delivered the weakest performance against analyst estimates, with revenues of $247 million missing by 2.1% and its stock plunging 32%.
Oilfield Services Stocks Beat Q1 Revenue Estimates by 3.8% but Shares Fall 9.6%
Oilfield services stocks tracked by StockStory beat analysts' consensus revenue estimates by 3.8% in the first quarter, yet their share prices have fallen an average of 9.6% since reporting. Baker Hughes posted revenue of $6.59 billion, up 2.5% year on year and 4.1% above expectations, but its stock dropped 7.9%. Select Water Solutions delivered the best performance relative to estimates with revenue of $366 million, beating by 6.8%, and its shares rose 6.1%. Borr Drilling had the weakest quarter, missing revenue estimates by 2.1% with $247 million, and its stock tumbled 29.6%. Helmerich & Payne and Oceaneering also reported mixed results, with both missing EPS and EBITDA estimates despite Oceaneering beating on revenue.
Helmerich & Payne and SM Energy Shares Fall as US-Iran Deal Eases Oil Supply Fears
Shares of Helmerich & Payne and SM Energy dropped sharply after the US and Iran signed an interim agreement waiving oil sanctions and reopening the Strait of Hormuz. WTI futures fell as much as 3.5% to an intraday low of $73.60, the lowest since March 2, while Brent crude dropped 2% to $77.96. The 14-point memorandum of understanding begins a 60-day negotiation period and allows immediate toll-free passage through the strait, which handles roughly 20% of the world's seaborne oil and LNG. Oilfield services company Helmerich & Payne fell 3.4%, and upstream E&P company SM Energy fell 4.7%, as the deal stripped away the geopolitical risk premium that had boosted energy stocks for months.